Mike “Mish” Shedlock does a daily blog commentary on the global economic situation, which is quite balanced and strongly recommended. He is a skeptic and digs for motivations and the truth.
Today’s post has an excellent analysis on how, with the loss of 11,000 jobs in November, total unemployment actually went (???$!#$!@) down? How is that possible?
In regards to the economy, the jobs picture presented on Friday was a mirage. One even has to wonder if the BLS is purposely playing games knowing full well a massive revision in the January numbers (coming out in February), will subtract 80,000 jobs a month for a full year.
I doubt the unemployment rate is under 10% a year from now, or even two years from now, unless the BLS numbers show large declines in the labor force (as they did in the November Employment Report on Friday).
The actual figures …
Here is his analysis:
Unemployment dropped by .2% even though 11,000 jobs were lost and it should take at least 100,000 jobs just to keep up with demographics. Instead note the drop in the civilian labor force by 98,000.
Moreover, those “not in the labor force” rose by 291,000 constituting nearly all of the decline in unemployment.
That drop in the labor force is not normal to say the least. It should have risen by 100,000 minimum.
Naturally, our hot-air president used this numerical manipulation as a talking point for the success of his stimulus program.
More bloggers are beginning to question the accuracy and transparency of this manipulation. TPM headlines their post: “We Just Counted Less Unemployed People“, and offers an untampered statistic putting unemployment at 12%!!
Why should we trust the government figures when all aspects of data and communications are politicized? We shouldn’t. Dig deep and believe your gut. This is rot of the core!
In any case, the number of people out of work is so high that it will be impossible to stem foreclosures and have a strong recovery, if any recovery at all. Of course, will Obama and the Democratic congress get out of the way, lower taxes and regulations, and let the economy recover … or will they …
Dig us deeper into debt with Government job creation efforts? As I mention before, the eggheads in this administration think they alone can solve all the nation’s problems. So the Washington Post reported yesterday.
“The president thinks we should and must do everything in our power to create an environment for job growth and job creation,” White House press secretary Robert Gibbs told reporters Friday morning. When asked whether Obama will back the use of bailout funds during a speech about the economy next Tuesday, Gibbs said, “It’s certainly being looked at. Yes.”
Plato said:
The price good men pay for indifference to public affairs is to be ruled by evil men.
Thanks to the IBD…
It’s December. Time again to look at President Barack Obama’s popularity, according to the folks at Rasmussen.
Wow! a 35% swing in just 10+ months! And most of that big move has come from the Independents who voted for BHO last November. Seems the change we thought we would get was not what BHO wanted to do. Like take over every aspect of our lives!
Not surprising, if you look at another interesting graphic:
The Obama White House has very few people(the smallest in history) who have practical private sector experience. What we have is a bunch of egg-heads that think government is the solution to EVERY problem we face: global warming (if it exists), jobs, health care, banking, cars .. the list is … literally .. endless.
They consider the massive debt to be an academic abstraction .. not realizing the dire and long term consequences of their actions.
Our only hope is a sensible senate, and a big sea change in the 2010 elections.
